Prince’s ransom

Late star’s advisers demand UMG fees

The advisers who auctioned off Prince’s estate have asked a judge to allow them to keep their $1 million-plus commissions — even though the $31 million deal for the artist’s recorded music is likely to fall apart next week.

Charles Koppelman and L. Londell McMillan are fighting attempts to claw back both of their $1.55 million paychecks after their deal to sell the rights to 25 Prince albums and a storied vault of unreleased music to Universal Music Group ran into trouble.

UMG claims the rights it bought to three Prince albums, “1999,” “Parade” and “Diamond and Pearls,” won’t kick in until 2021 — not 2018, as the two advisers told the company.

As such, UMG doesn’t want the rights.

Koppelman, a former mu- sic executive, worked alongside McMillan, who once served as Prince’s counsel, to help the estate’s original administrator auction off rights not only to the artist’s recorded music but also to his publishing and merchandising.

UMG won all three of the auctions and has no qualms about the publishing and merchandising rights. Rather than sue each party in the deal, UMG decided to terminate the recorded music deal.

“[Canceling the deal] will benefit all parties by resolving this matter without the cost, delay, and uncertainty of the litigation that [UMG] will be forced to bring if [cancellation] is not approved,” the two said in a May 30 filing.

UMG’s request, if approved by the court at a June 13 hearing, is expected to prompt a new auction for Prince’s recorded music.

Koppelman answered UMG’s request by saying that if it cancels the deal, it would be more a business decision than a legal matter.

As such, he deserves his cash, Koppelman said in his letter.

Koppelman and McMillan shared a 10 percent commission on the $60 million or so fetched by Prince’s three major auctions, giving each a $3 million payday, sources said.